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CheckNFT.iO: An Intelligent Solution for NFT Analysis and Fraud Detection
Technology Category
- Application Infrastructure & Middleware - Blockchain
- Platform as a Service (PaaS) - Application Development Platforms
Applicable Industries
- Cement
- Equipment & Machinery
Applicable Functions
- Procurement
Use Cases
- Clinical Image Analysis
- Track & Trace of Assets
The Challenge
Vasiliy Karpitski and Alexei Dulub, entrepreneurs and blockchain enthusiasts, identified a significant challenge in the rapidly growing NFT market. The NFT market, which hit $17.6 billion in sales in 2021, has attracted a large number of creators, businesses, and investors. However, the rapid growth of the market has also led to an increase in scams and fraudulent activities such as blacklists, wash trades, and duplicates. This has made it difficult for NFT buyers, creators, and businesses to make quality investment decisions and avoid risks. To address this challenge, the entrepreneurs decided to develop a smart solution that would help NFT investors make informed decisions by providing them with actionable data on NFT collectibles, their provenance, and ownership.
The Customer
Vasiliy Karpitski and Alexei Dulub
About The Customer
The customers of CheckNFT.iO are primarily NFT investors, creators, and businesses in the NFT field. These customers are looking for a reliable and intelligent solution that can help them make informed investment decisions in the NFT market. They need a platform that can provide them with actionable data on NFT collectibles, their provenance, and ownership. They also need a platform that can help them avoid scams and other fraudulent activities in the NFT market. In addition, the platform also caters to the needs of analytics firms that require quick access to a large array of structured data and the results generated by machine learning models for analytical purposes.
The Solution
The solution to this challenge was the development of CheckNFT.iO, a platform that collects and analyzes large amounts of data from the blockchain network and machine learning models. The platform allows users to browse, compare, and analyze data behind NFT collectibles. It is equipped with an AI engine that analyzes NFT’s history on the blockchain and monitors newly created blocks in real time to provide users with potential copies or IP exploits. The platform also includes advanced analytics tools like marketplace analytics, top NFT gems, and more. To prevent scams and other financial manipulations, the platform uses an AI algorithm that detects fraudulent smart contract creations, mints, and other suspicious activities. The platform also ensures intuitive navigation so that both NFT newbies and professionals in the field can easily use the service.
Operational Impact
Quantitative Benefit
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